Friday, October 15, 2004

Instant messaging could land bosses in jail

UK firms could be breaking compliance laws by using instant messaging, and banning the applications may not be successful. Many companies use IM in the belief that it is exempt from compliance laws, such as Sarbanes-Oxley and Basel II. These regulations demand that companies store all their data for at least seven years. If companies fail to deliver on the regulations, chief executive officers and chief financial officers could be liable to go to jail.

"People are coming to us worried about it," said Mark Smith, a solicitor for Olswang. "There are two problems -- unauthorised use of IM, and from a legal perspective all the [compliance] issues that apply to email apply to IM too."

Instant messaging could land bosses in jail

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